Where are we in terms of uniform international accounting standards?
While the economy was certainly a factor, it was not solely responsible for the IFRS slowdown. We find that many of our clients are undertaking a preliminary IFRS assessment this year to evaluate the implications of an IFRS conversion. This is an important information-gathering step, and is needed before making a determination regarding the plan and time frame for an IFRS conversion. For our part, we support the development of a single set of high-quality global accounting standards that are widely supported, and we believe IFRS is that quality set of standards. Because strategic planning and implementation of IFRS takes time, we support the SEC having a more definitive time line that provides greater clarity regarding the timing of the transaction to IFRS for U.S. public companies. Deloitte will continue to participate in, and advise our clients through, the IFRS discussions. Q: There are some major changes coming in terms of the tax code under the current administration. What is Delo
